Thursday , February 9 2023

Executive Council Saba Concerned About Intended Closure of WIB Branch Saba

It has come to the attention of the Public Entity Saba that the Windward Island Bank intends to close its branch located in The Bottom, Saba in October 2016.

This is a situation that greatly concerns the Executive Council, who is lobbying for a solution to these unsettling circumstances. In a letter to the State Secretary of Finance Mr. Wiebes, the Executive Council has requested support of the national government in looking into solutions for this threat.

The closing of the Windward Island Bank branch on Saba, is expected to have a negative impact on the island. It will hurt the economy and is likely to hinder the efficiency of our local businesses, based on the experiences of a bank leaving Sint Eustatius some years ago. The current banking experience on the island is already a reason for complaints by many organizations and citizens on the island, and with the removal of one of the two banks, the level of services is feared to drop even further.

Factors such as longer lines at the bank; already a significant factor on the island, and access to only one ATM, are matters of great concern. It is the Executive Council’s opinion that the closing of this bank would quickly overburden the only other bank on the island, RBC.

Alternate solutions are being looked into. The Public Entity Saba will continue to work on behalf of the people of Saba to create an outcome that will be beneficial to the island, residents and businesses alike.

The Executive Council of Saba

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